BBB-A-Rating
Notice: As a part of OVLG's preventive measures on COVID-19 outbreak, our office will remain operational with reduced staff from home. You may face issues with the phone due to routing issues or get delayed response. So we prefer that you send us an email or make a support request for assistance. For new clients, please use our chat system.

Payday loan laws in Colorado

  • Status: Legal (Colo. Rev. Stat. 5-3.1-101 et seq.)
For Lenders

Lending specifications:

  • Maximum loan amount: $500
  • Loan tenure: Minimum 6 months
  • Fees and finance charges: 20%: $0-$300 + 7.5%: $301-$500 plus 45% on yearly interest plus monthly maintenance fee $7.50 per $100 borrowed, up to $30, after first month.
  • Finance charge on a 14-day $100 loan: NA
  • APR on 14-day $100 loan: NA

Collection restrictions:

  • Collection fees: $25 NSF fee; court fees; attorney's fees (should not exceed the loan amount)
  • Criminal procedures: Prohibited
For Borrowers

Debt limits:

  • Maximum no. of outstanding loans at a time: No limit if total debt remains within $500 and 30-days between loans
  • Rollovers allowed: One renewal allowed at 45% rate

Complaint cell:

  • Regulator: Office of the Attorney General of Colorado and Department of Law
  • Address: 1525 Sherman St.; Denver, Colorado 80203
  • Phone: 303-866-4500
  • Consumer hotline: 303-866-5691
  • Website: http://www.coloradoattorneygeneral.gov/



Last Updated on: Tue, 19 Dec 2017